Impact of MidEast War: Furnace oil price hiked by Tk 24.59

The Bangladesh Energy Regulatory Commission (BERC) has increased the consumer-level price of furnace oil by Tk 24.59 per litre, adjusting it to Tk 94.69 from the previous Tk 70.10.

The new price has been come into effect from Sunday midnight. The decision was announced by BERC on Sunday (April 12) through a notification.

According to the BERC notice, the price was adjusted under Sections 22(b) and 34 of the Bangladesh Energy Regulatory Commission Act, 2003.

The commission cited the average Platts rate of furnace oil from March 1 to April 12 and the FOB (Free on Board) price of crude oil imported in February
both of which were heavily influenced by the ongoing conflict in the Middle East.

Furnace oil is primarily supplied by the Bangladesh Petroleum Corporation (BPC) and is a critical fuel source for the Bangladesh Power Development Board (BPDB), various public and private power plants, as well as several industrial units.